Silver, gold bounce back on brisk buying

Mumbai: Silver prices bounced back at the bullion market here on Thursday on the back of fresh demand from speculators and stockists despite bearish international cues.

Gold too, rebounded smartly on emergence of fresh local buying interest as well as investment demand at existing lower level amidst ensuing marriage seasons.

Silver ready (.999 fineness) jumped by Rs 910 per kilo to close at Rs 43,080 from Tuesday`s closing level of Rs 42,170.

Standard gold (99.5 per cent purity) rose by Rs 125 per 10 grams to finish at Rs 19,925 from Rs 19,800.

Pure gold (99.9 per cent purity) also went up by a similar margin of Rs 125 per 10 grams to conclude at Rs 20,025 as against Rs 19,900 previously.

In Europe, gold declined on more positive view over economic recovery amidst speculations that certain major economies would raise interest rates sooner.

Spot gold was bid at USD 1,337.45 an ounce in early trade as against USD 1,346.36 late in New York on Wednesday.

US gold futures for February delivery fell USD 4 to USD 1,337.20.

Silver was bid at USD 27.43 an ounce compared to USD 27.59.